FX.co ★ Technical Analysis of Crude Oil Intraday Price Movement. Monday March 16, 2026

[Crude Oil]

With the appearance of a Bullish Divergence and a Golden Cross position on both EMAs, showing that buyers appear to dominate #CL, so there is potential for a near-term upside.

Key Levels

1. Resistance. 2 : 104.05

2. Resistance. 1 : 101.60

3. Pivot : 96.84

4. Support. 1 : 94.39

5. Support. 2 : 89.63

Tactical Scenario

Positive Reaction Zone: If #CL holds at 96.84, there is a likelihood of a move up toward 101.60.

Momentum Extension Bias: If 101.60 is broken and closes above, #CL may test 104.05.

Level Invalidation / Bias Revision

The upside bias weakens if #CL falls below 89.63.

Technical Summary

EMA(50) : 96.39

EMA(200): 92.06

RSI(14) : 56.25 + Bullish Divergent

Economic News Release Agenda:

From the United States, the following economic data will be released:

US - Empire State Manufacturing Index - 19:30 WIB

US - Capacity Utilization Rate - 20:15 WIB

US - Industrial Production m/m - 20:15 WIB

US - NAHB Housing Market Index - 21:00 WIB